Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $7.00-$7.40 for the period, compared to the consensus estimate of $6.79. The company issued revenue guidance of $10.25-$10.55 billion, compared to the consensus revenue estimate of $10.20 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.000-7.400 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America boosted their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their target price on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 16th. TD Cowen upped their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a report on Thursday. KeyCorp increased their price objective on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a research note on Thursday. Finally, Susquehanna increased their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a positive rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $156.18.

Westinghouse Air Brake Technologies Stock Up 0.4 %

Shares of NYSE:WAB traded up $0.59 on Friday, reaching $163.77. The company had a trading volume of 494,353 shares, compared to its average volume of 1,053,449. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $167.49. The stock has a market capitalization of $28.96 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.76 and a beta of 1.40. The stock has a 50-day moving average price of $143.19 and a 200 day moving average price of $127.89. The company has a quick ratio of 0.63, a current ratio of 1.52 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. On average, equities analysts expect that Westinghouse Air Brake Technologies will post 7.2 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.20 per share. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David L. Deninno sold 6,607 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the transaction, the vice president now owns 65,535 shares in the company, valued at approximately $8,887,201.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the completion of the transaction, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 over the last three months. Company insiders own 1.10% of the company’s stock.

About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.